G8 Identifies Climate Change as one of the Foremost Challenges for the Future

lough-erne18 June 2013: "We remain strongly committed to addressing the urgent need to reduce GHG emissions significantly by 2020 (..) with a view to doing our part to limit effectively the increase in global temperature below 2ºC," reads the communiqué released by the leaders from the group of eight industrialized countries (G8). The leaders further identify climate change as one of the foremost challenges for future welfare and economic prosperity.

Leaders from Canada, France, Germany, Italy, Japan, the Russian Federation, the US and the UK met from 7-18 June 2013, at Lough Erne, Northern Ireland, for the 39th G8 Summit. The ensuing communiqué highlights their intention to pursue ambitious and transparent climate change-related actions at both domestic and international levels, under the UN Framework Convention on Climate Change (UNFCCC) as well as under other relevant fora through complementary actions, including in the Major Economies Forum (MEF), the International Civil Aviation Organization (ICAO) and the International Maritime Organization (IMO).

The communiqué further recognizes climate change as a "contributing factor in increased economic and security risks globally," recalling the reinforcing nature of climate policy and sustainable economic development.

Finally, G8 leaders reiterate their commitment to mobilize $100 billion of climate finance per year by 2020 jointly with the other developed countries "from a wide variety of sources in the context of meaningful mitigation actions" and state they are advancing efforts to continue improving transparency of international climate finance flows.

The Leaders also agreed to take action on trade, tax systems and transparency, with efforts on the later to include an Open Data Charter. They also agreed to work "closely with African governments and citizens to promote sustainable growth," to "support greater transparency in land transactions including at early stages, and increased capacity to develop good land governance systems in developing countries" and to "over time apply the Busan common transparency standards to their respective Development Finance Institutions and international public climate finance flows consistent with the reporting of climate finance under the UN Framework Convention on Climate Change (UNFCCC)," among other items. [G8 Communiqué] [G8 Lough Erne Website]